Upstart Holdings, Inc. (NASDAQ:UPST) Stock Has Consensus Price Target of $32.40 According to Analysts

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been given a consensus recommendation of “Hold” by the seventeen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.40.

A number of equities research analysts have recently weighed in on the company. Mizuho set a $35.00 target price on Upstart in a research note on Wednesday, November 4th. Morgan Stanley reduced their price target on Upstart from $35.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 4th. Citizens Jmp decreased their price target on Upstart from $20.00 to $18.00 and set a “market underperform” rating on the stock in a research note on Thursday, October 15th. Needham & Company LLC lowered their price objective on Upstart from $42.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Finally, Truist Financial dropped their price objective on Upstart from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th.

Insider Activity

In related news, insider Natalia Mirgorodskaya sold 913 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total value of $27,417.39. Following the sale, the insider directly owned 35,875 shares of the company’s stock, valued at $1,077,326.25. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrea Blankmeyer sold 7,175 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $29.36, for a total value of $210,658.00. Following the transaction, the chief financial officer owned 155,208 shares in the company, valued at approximately $4,556,906.88. This represents a 4.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 148,652 shares of company stock valued at $4,133,720. 17.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upstart

Several hedge funds have recently made changes to their positions in UPST. Asset Management One Co. Ltd. lifted its stake in Upstart by 33.2% in the third quarter. Asset Management One Co. Ltd. now owns 1,790 shares of the company’s stock worth $41,000 after acquiring an additional 446 shares during the period. Versant Capital Management Inc boosted its holdings in Upstart by 26.7% in the second quarter. Versant Capital Management Inc now owns 2,905 shares of the company’s stock valued at $103,000 after acquiring an additional 612 shares in the last quarter. State of Wyoming boosted its holdings in Upstart by 10.8% in the first quarter. State of Wyoming now owns 6,901 shares of the company’s stock valued at $177,000 after acquiring an additional 674 shares in the last quarter. Parallel Advisors LLC raised its holdings in Upstart by 76.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,656 shares of the company’s stock worth $38,000 after purchasing an additional 719 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Upstart by 25.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company’s stock worth $99,000 after purchasing an additional 881 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Stock Performance

NASDAQ UPST opened at $20.41 on Friday. Upstart has a 52-week low of $19.71 and a 52-week high of $52.10. The company has a market capitalization of $2.02 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 2.48. The company has a fifty day moving average of $24.20 and a 200-day moving average of $29.15.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The business had revenue of $370.52 million for the quarter, compared to the consensus estimate of $362.68 million. Upstart had a return on equity of 9.67% and a net margin of 4.86%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts forecast that Upstart will post 0.38 EPS for the current fiscal year.

Upstart Company Profile

Upstart Holdings, Inc. operates an artificial intelligence–based lending marketplace that connects consumers seeking loans with banks and credit unions. Its platform uses machine-learning models and borrower data to help lending partners assess credit risk and make lending decisions. The company’s offerings include personal loans and technology for auto lending, including auto retail and refinancing. Upstart was founded in 2012 by Dave Girouard, Paul Gu and Anna Counselman. Girouard serves as the company’s chief executive officer.